New add-on function for the RapidIdentity platform monitors the dark web for compromised credentials and notifies administrators so they can take action to prevent ransomware and data breaches.
Identity Automation, the digital identity platform for education, announced the launch of a new compromised credentials monitoring service that can help K-12 schools and higher education institutions counter the growing threat of ransomware, data breaches and rising insurance costs. An add-on function to Identity Automation’s flagship RapidIdentity platform, the new service searches the dark web for hacked username and password combinations and allows IT teams to quickly remediate the vulnerability.
Powered by SpyCloud, the service notifies school IT administrators via a daily report when compromised data connected to any managed identity is discovered – be it students, faculty, staff, parents, alumni or external third parties. Administrators can create custom automated responses via RapidIdentity, choosing actions such as monitoring digital identities and queries, ending sessions that are active with compromised credentials, locking accounts, requiring a password reset before restoring user access and/or implementing a multifactor authentication sign-on process for affected users. Benefits for schools that adopt a compromised credentials monitoring system may include:
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- Lower cybersecurity insurance premiums
- Less risk of reputational damage due to a massive data breach
- Avoiding the necessity of paying a ransom to unlock hacked systems and recover data
- An opportunity to refocus resources by automating compromised credential alert responses
- Sensitive information pertaining to students, staff and parents is safe and secured
Cybercriminals are targeting K-12 schools and higher education institutions at an alarming rate, drawn by the massive pool of data that school systems contain, including personal identifying information for students without a credit history. Hackers have gained access to student, device and/or faculty accounts and launched horizontal attacks across networks. A recent report in eSchool News points to a dramatic increase in ransomware incidents targeting schools late last year, with schools making up 57% of all targeted organizations, more than double the rate reported in the first half of 2020.
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Identity Automation’s new compromised credentials monitoring service is unique because it’s not a standalone reporting service; it’s integrated into the best IAM platform available to educational institutions, RapidIdentity, and fueled by SpyCloud, a trusted solution provider protecting over 2 billion employee and consumer identities from account takeover for some of the most well-known brands on the planet.
“Preventing ransomware is possible by negating the top attack vector: credentials that have been exposed in data breaches,” explained Cassio Mello, SVP of Business Development at SpyCloud. “This service gives schools early identification of compromised accounts, enabling them to take action quickly and prevent cyber attacks that leverage recently-breached identity data.”
“Our compromised credentials monitoring service can help schools avoid the fate of other education organizations that have paid out hundreds of thousands of dollars in ransom or suffered massive data loss from a hacking incident,” said Identity Automation CEO Jim Harold. “And because it’s integrated with the RapidIdentity platform, IT administrators can automate responses and focus on singular threat vectors instead of analyzing credential issues. This approach is more secure and more efficient.”
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